Czech Republic – Vietnam Business Roundtable seeks to make most of EVFTA
The “Czech Republic – Vietnam Business Roundtable” was held by the Vietnamese Embassy and the Czech Management Association (CMA) in Prague on November 10 to introduce potential for cooperation in trade and investment between the two countries and exchange information about their market and business climate.
The “Czech–Vietnam Business Roundtable” is held by the Vietnamese Embassy and the Czech Management Association (CMA) in Prague on November 10. (Photo: VNA)
Prague (VNA) – The “Czech Republic – Vietnam BusinessRoundtable” was held by the Vietnamese Embassy and the Czech ManagementAssociation (CMA) in Prague on November 10 to introduce potential for cooperation in tradeand investment between the two countries and exchange information about theirmarket and business climate.
The event took place in the context that the two countries areseeking ways to make the most of the EU-Vietnam Free Trade Agreement (EVFTA) andthe EU-Vietnam Investment Protection Agreement (EVPIA) is in the process of domestic ratification.
The event also aimed to explore challenges and ways todeal with them in order to boost the bilateral trade and investment, and share the Czech Republic’s experience in COVID-19 response to revive the economy.
It brought together policymakers and business leadersfrom both nations.
At the event, speakers focused their presentations on analysingimpacts of COVID-19 on the global economy, including Vietnam and the Czech Republic, and howthe EVFTA and EVIPA provide great opportunities to market access and trade ofgoods between Vietnam and the Czech Republic, a member of the EU.
The Czech Republic has acted as a gateway for Vietnamese goods toenter the EU market. Additionally, thanks to the EVFTA, the Vietnam-Czech Republic tradehas steadily grown despite COVID-19 impacts, one of which has been disruptionsin the global supply chain. The two-way trade reached 1.5 billion USD last year,up 22 percent from the previous year. It rose 28 percent year on year in thefirst half of 2021 to worth 936 million USD.
A number of Czech business leaders highly spoke ofpotential in trade and investment between the two countries, saying they wantto explore trade opportunities with Vietnam, particularly in the areas whichthe Southeast Asian nation holds advantages of, including agriculture andfisheries products, garment and textile, and footwear.
The Czech side also showed interest in stepping up bilateralpartnership in civil aviation, suggesting Vietnam and the Czech Republic should worktogether to train Vietnamese pilots and open more direct flights between thetwo countries./.
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The “Czech–Vietnam Business Roundtable” is held by the Vietnamese Embassy and the Czech Management Association (CMA) in Prague on November 10. (Photo: VNA)
